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Germany 10, Esm 8, Cairo 6, Europe 6, Libya 5, U.s. 4, Benghazi 4, Brussels 4, Angela Merkel 3, Us 3, Christopher Stevens 2, Banking Union 2, Egypt 2, Austria 2, Euros 2, Berlin 2, Pakistan 2, Moscow 2, United 1, Hillary Clinton 1,
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  KCSMMHZ    Journal  

    September 12, 2012
    2:30 - 3:00pm PDT  

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>> welcome to "the journal" coming to live from berlin. >> here are our top story this hour. what's a green light for the euro bailout fund -- germany's top board says the rescue package can go ahead. >> the u.s. ambassador in libya and three other american officials are killed during islamist protests in benghazi. >> in pakistan, nearly 300 people died in a blaze at a clothing factory.
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germany's top court has approved the eurozone bailout fund with some conditions. the ruling clears up a key hurdle toward resolving the eurozone debt crisis. >> in the landmark decision, the constitutional court overturn legal challenges aimed at preventing the european stability mechanism and the european this compact from becoming law. 37,000 people in germany joined the suit which challenged the constitutionality. >> the plaintiffs claim germany was fighting way to much of parliament's power over the budget. >> all eyes were on the german constitutional court as a judge is prepared to hand down their decision on european stability mechanism. those who filed the suit want to stop the esm's ratification. a high court struck down the injunction, clearing the way for the measure.
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but the judges set conditions, capping german liability at 190 billion euros and requiring the government must keep parliament informed of all esm measures. >> the federal republic of germany must express it does not want to be bound to the esm treaty on hold. in the event the conditions are nullified -- >> the president of the court says it was up to the politicians, the court, to decide if the esm was the right approach to the crisis. >> in this sort of situation of uncertainty, the division of power is anchored in the german constitution and the calls of elected officials to act. they must be responsible for and enforce their decision within the political realm. >> the judges are scheduled to hear arguments about the central bank's buying of government bonds. yet the decision gives the
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european governments some certainty about the future. >> the german chancellor, angela merkel, has invested considerable political capital in the esm and welcomed the ruling. >> they have been debating the 2013 budget today. even for the pollard and terry and to oppose the fund, there was praise for the especially te provision for a debt ceiling. >> german chancellor, angela merkel, was all business when she prepared to address the german parliament. she remained preserved, imagining brief details and the german constitutional court's ruling. >> this decision strengthens the rights of parliament and gives both the government, taxpayers, and the country's citizens more security for the course we must take. that is why i say this is a good day for germany and a good day for europe.
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[applause] >> the opposition also welcomed the court's decision. they sought as a victory for the democratic process and the people of europe. >> european integration can only happen with democratic control and participation. this is a central message we received from the constitutional court today. >> to journalists wait outside, the german foreign minister said he would hope the court decision would help braced the european union. >> germany has a pro-european constitution. so the ruling by the constitutional court can be seen as pro-european. it is the decision i want it and hope for. >> the fight over the european stability mechanism may be over, but the chancellor knows the crisis is far from over. >> the esm can go ahead, with
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some conditions. let's go live to our correspondent. the court has attached some real, yachts into the esm. do they succeed in keeping parliament in the political loop when it comes to any for the bailout? >> absolutely. i think that is clear from the conditions the court has set before the treaty can be ratified. these two key conditions -- they say germany possible liability must not rise above the 190 billion euros the authorized capital stock agreed to the initial arrangements without the consent of parliament. references to secrecy and a treaty must not mean the german parliament is not properly informed. what parliamentarians here are trying to work out is how these conditions can be implemented
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and the talk is of attaching a particle text to the treaty text the german president would sign. what is not clear is whether to do that would require a full debate of both houses of parliament. if so, it could slow down the process of the government is keen to get the stability mechanism up and running very soon. the plan is to do it in october. >> are these conditions enough to satisfy the parliamentarians critics? >> one of the main things the critics who brought this legal challenge was concerned about was the possibility of erosion of parliamentary oversight. but the court has addressed that clearly in its ruling. there are economic arguments against the stability mechanism and the left party spokesman, the only party in parliament
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that has joined the legal challenge, they said today marks the beginning of the united debt of europe. they're not happy with this ruling at all and the court is going to continue its deliberations and look at the plans by the european central bank to buy bonds. these plans, angela merkel's plan, if you like, to save the euro is far from a done deal yet. there is still a lot of talking to do. >> thank you very much. >> ahead of the court ruling in germany, the president of the european commission said they need deeper integration to cope with the debt crisis. >> in his annual state of the union address, he said the european union has to evolve to survive. >> financial and economic crisis -- the social crisis, but also a crisis of confidence. at its roots, the crisis results
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from irresponsible practices in the financial sector and sustainable public that and a lack of competitiveness in some of our member states. on top of that, the euro faces structural problems of its own. its architecture has not been up to the job. imbalances have built up. this is now being corrected, but it is a painful, difficult effort. >> a very concise description of the situation. right on the heels of the german court decision, a real wake-up call there. let's bring in our brussels correspondent. we just heard from the european commission president. is this the ruling he and other officials wanted to see? >> of course. the ruling did not come completely unexpected.
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there is still a great sense of relief in brussels because people were secretly thinking what are we going to do if they say no to the esm? fortunately, they did a support of the esm and germany as the last country to sign the treaty. now people in brussels are relieved it because business can continue as usual, as usual as as possible in these chaotic times. parliamentarians in particular showed their relief and said it was a great sign and they say -- the say the representatives have and the rescue is strengthened by this ruling. >> they not only expressed relief about the past but looks to the future -- they want to give the european central banks sweeping new powers. what can you tell us? >> the idea of that commission is to make a step toward the
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banking union. in a first step today, the commissioner present his proposals for a supervisory board for banks in all of the european union. the idea there is that all of the supervision of banks and the intervention of something goes wrong has been at the national level. it is important we move this on to the european level, together with national supervisors inside the european central bank said they have the power to intervene if something goes wrong in any of the 6000 banks in europe. this is a very late response to the crisis in the united states where we have seen what happens if banks are a threat to the system. it is a long procedure and germany has said maybe not all 6000 banks should be placed under it. those that are really important for the system -- we will see a banking union in the months to
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come. >> thank you. the commission cost plans for deeper fiscal integration and the german court ruling are steps berlin and brussels hope will and the financial 12 -- financial turmoil. >> the developments are being met with cautious optimism that europe might finally be getting on track to solving its financial problems. we talked to one analyst and they talked about with this decision means for them. >> their famous for all types of cutlery. plates are from all over the world, shipped to shops all over the european union. the court has kept german liabilities at 190 billion euros. this this this man says it's a great deal of money, but he still believes the esm is the right course to take. >> naturally, it's a question of solidarity in special cases. for that, you need a bailout
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fund. >> he stayed close to the television on wednesday morning. he is interested in what is happening in europe. his first reaction to the decision was positive. >> the constitutional court has seen the political aspects must be considered and within the european framework, it cannot be that germany speaks unilaterally on something that could serve as a means of rescue in the coming years. >> he says it is that the court placed a limit on in germany's liability for the ballot measures. >> there should be a cap because we don't know what is coming our way yet. that is why i say we should decide case by case. that cannot get out of hand. >> but the judges were considering whether the german parliament was given a say in the process.
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workers want to know what's going to happen to their tax payments. >> people can't imagine the sums of money. you have to trust politicians and hope they do the right thing. >> the company expects orders from crisis companies to taper off due to the weak economy. but after the german high court off the session, there -- they are no longer worried that the eurozone could break up. >> with the esm set to take effect in just weeks, with that the market reaction from frankfurt. the judges set a limit of 190 billion euros of liability, but investors must be relieved it's not necessarily a permanent ceiling. >> outright. if a -- that's right. if a larger sum can be raised with political consent to the problem, that's not going to be easy. one needs a majority and who knows how it's going to turn out, but the mechanism would be
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there. >> part some investors as skeptical as the public and some of its critics? >> for sure. that's why jubilation did not happen when the decision was announced. many people believe it is the wrong way to do it, to fight fire with fire and fight debt with more debt. >> is this a watershed decision? do the markets think politicians can master the crisis? >> i think that's an important way to that conclusion. it's not that the crisis is over, but if the politicians had followed through with it, it would have been a major confidence crisis. when you look at the crisis here, everyone is relieved it happen the way it did. european stocks going up i 0.5%. on the new york stock exchange, the dow jones gained about that much. people waiting for the fed and possible bond buying. the euro was also up. >> thank you very much.
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>> we're going to take a short break. we'll be right back with the latest on the killing of the american ambassador in libya. >> we will be going live to cairo for more. stick around.
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>> the complete package -- straight forward no matter where you are. the dw app, one of our mobile options. >> welcome back. >> thank you for staying with us. >> the u.s. ambassador to libya has been killed by armed demonstrators in benghazi. christopher stevens and three other american officials died when the embassy was a salted over protests over an anti- islamic film. >> the film, which was produced in california, protestors say insull's the prophet mohammed because it portrays him as a womanizer. the film has been condemned and beg you to version has been >> are raged protesters attacked the embassy in cairo, where
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protests are reported to be continuing at this hour. >> the conflict in benghazi was gutted after the attack. four people were killed, including the u.s. ambassador to libya, christopher stevens. thousands had gathered at the consulate to protest. demonstrators forced their way into the building, setting it ablaze. the president of libby's new national congress has condemned the attacks. authorities are searching for the perpetrators. >> him there trying to cloud the joy of the libyan people. this cowardly act comes as one of many acts of evil in the conspiracy against the revolution. and against the security and stability of the country. >> protestors say they were outraged over an insult to their religion. the film was made by an israeli-
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american who has called islamic cancer. at the american embassy in cairo, protestors gathered to rail against the film. they scaled the embassy walls and burned american flags. but no one was killed. >> for the very latest on this story, we're doing now live by our correspondent in cairo. what is the situation in cairo right now? we understand protests have been ongoing. >> starts again this late afternoon. they announced they will meet again in front of the embassy. security is there and the military is there, so we are all awaiting what is going to happen this evening. there is a demonstration that other american embassies in beirut and here is also a protest announced for algeria. also in tunisia. >> how strong are the islamists right now in egypt and libya? >> this is a very small group
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you talk about the islamists -- it is a group of very extreme, ultra-conservative islamists who are trying to get benefits of this situation. they are the ones who organized protests and there were also behind the attack in benghazi. >> what do you think these protests mean? will they be continuing? >> in cairo, it looks like they are continuing. we have a new situation -- during the danish cartoon controversy, that was a time when we had an arab dictatorship and he'll bark was using this issue hits to say if you don't want this, you have to support me. now we have a new situation and knew governments here in egypt.
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the muslim brother is a president and it will be interesting what is the dynamic within the islamists. is the muslim brotherhood in charge? i think we're up for a confrontation between the two sides. >> thank you very much. the u.s. secretary of state, hillary clinton, has condemned the attacks. she blamed "a savage but small group" for the killing of the ambassador. >> this is an attack that should shock the conscience of people of all faiths around a world. we condemn in the strongest terms this senseless act of violence and we sent our prayers to the families, friends, and colleagues of those we have lost. >> a devastating fire in a garment factory in pakistan has killed nearly 300. this raises new concerns about workplace safety at the lack of
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oversight. >> the building was widely known by local residents to be dangerous. authorities say they will come up with a report of the incident within 24 hours. it remains unclear, because of the fire. >> people came to search for relatives and friends. the blaze swept through the factory during the night and spread so quickly that you managed to escape. -- that few managed to escape. >> all of the bodies being retrieved were all inside the factory. the body of my son has not been found yet. where is he? he was my youngest son. >> there were three ships at the factory which -- three ships at the factory that meant that -- that made clothing 24 hours a day. the gate was locked and there are no emergency exits. police said many victims were trapped. >> we went to the factory.
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but we could not get any information. when we came down here, we knew he was dead. >> police investigators are combing the city trying to find the factory owner. authorities say he may have to face charges of negligence. >> we will have more details on that as they come in. a change of pace now and get news for the german soccer team and the world cup qualifiers. >> first, some other stories making news around the world. >> somalia's new president has escaped an assassination attempt in the country's capital, mogadishu. two bombs went off outside a hotel or who is holding a press conference with the kenyan foreign minister. neither were hurt. as lost militia said it carried out the attacks. >> in syria, heavy fighting
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between rebels and government soldiers continues. troops shelled opposition neighborhoods. in one province, at least 18 government soldiers were killed when a rebel militias that needed a car bomb. >> thousands of protesters are blocking the anglo-american platinum's mine shaft in south africa. armed with machetes and clubs, they're threatening to kill strikebreakers. government officials fear the protests could spiral into a nationwide revolt. another mining company made headlines in august as police shot and killed 44 miners. >> some soccer now and the german national team has edged out of shia -- had to out -- edged out austria. >> of the game was highly anticipated. both teams were missing key players. >> it was a battle between
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neighbors. austria played it forcefully and creatively, especially the start striker. he had an early shot blocked. >> it is upsetting, but our focus is by getting points from other teams. we would like to have gotten some from germany. >> during the game, the team looked uncertain, but there were some exceptions. there were some fast place. right before halftime, the first german goal in the 44th minute. after the break, the germans took the upper hand. then there was a penalty, bringing the score to 2-nil after 52 minutes. a low cross was sent to the goal and the 57th minute but it was not enough. it did make the german team
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sweat. >> when our opponents put us under some much pressure that looks like we're getting nervous, that is something we have to improve on. >> the final score 2-1. a squeaker of a win for germany. >> one of germany's most critically acclaimed modern art is received the inspiration for his more famous works after his plane was downed during world war two. >> for the very first time, the russian public has the chance to discover his art. the first comprehensive show is ready in moscow for the next two months. >> his room-filling sculptures are there and so is his famous suit. the appeal for an alternative is the first retrospective of his work in moscow and the curator says it's very timely.
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>> many young artists are looking at the world's problems, asking themselves extremely political questions and examining the situation people are in and how they can react to such crises in their art. in this sense, he is the father of political art. >> he claimed that animal fat and felt kept him from freezing to death during the second world war when the plane he was flying was shot down but the soviets. his wartime experience shaped his artistic vision. he saw art as a liberation from authority. >> i don't know whether the curators of the retrospective saw it as a political gesture. he is extremely important already of the artistic terms. >> i like the way the show is laid out. i have only started looking.
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my first impressions are very positive. >> some 500 works are on display in the show which runs until mid november. >> before we go, here's a recap of the main points of the ruling by the german constitutional court -- judges struck down requests for an injunction to block ratification of the european stability mechanism. but the court has applied some restrictions, the amount of money germany can provide to the bailout fund cannot exceed 190 billion euros unless the german parliament agrees. that is all have time for right now. thank you for joining us. >> you can find more on our web site.
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